The Nigerian Deposit Insurance Corporation has commenced the process of verification and payment of depositors of 154 Microfinance Bank and six Primary Mortgage Banks whose licences were recently revoked by the Central Bank of Nigeria in the last quarter of 2018.
According to him, the most recent of such interventions was the resolution of the defunct Skye Bank Plc which prevented the loss of over 6,000 jobs. He added that the corporation has also been relentless in its debt recovery efforts, particularly, the debts owed to banks in-liquidation so as to enhance payment of liquidation dividends to depositors whose balances are in excess of the insured limits.
“These efforts were boosted by series of judgments obtained against banks in-liquidation and realisation of physical assets of closed banks.
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